Opera Festival of Chicago Inc

Analysis

Opera Festival of Chicago Inc is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in April 2021, 5 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Opera Festival of Chicago Inc reported income of $310k and spending of $301k, spending 97% of its income. Across the 4 years on record, from June 2021 to September 2023, income grew from $196k to $310k (+58%), an average of +17% a year. The sharpest change came in the year to September 2021, when income dropped by 100%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Opera Festival of Chicago Inc sits at the 69th percentile: it is larger than about 69% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 63rd percentile within IL. Charities of a similar size with the same main cause include Preservation Park Cities ($310k), Tfi Digital Archive Inc ($310k) and Modeling Acting Dance Studio Corp ($310k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 86% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $22k (7.3% of expenses). Other salaries and wages came to $176k. At year end it held assets of $2,997 against liabilities of $0, net assets of $2,997.